"It provides peace of mind for consumers, who can now play a proactive role in protecting their own accounts," said Steve Ruw, chief risk office of the credit, debit/ATM and prepaid card servicer. "Credit unions also benefit since CardLock is an extremely cost-effective way to help lower the risk of fraud and the expenses associated with managing compromised accounts."

If anyone tries to use the card while it has a locked status, they will be contacted by PSCU's fraud prevention staff to notify them of the unauthorized attempt. According to PSCU, CardLock effectively renders stolen account data worthless when a cardholder proactively blocks the account.